Fukoku Mutual Life Insurance Co. (Fukoku) reduced its position in Exxon Mobil Co. (NYSE:XOM) by 2.6% in the fourth quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The fund, which held 150,403 shares of the oil and gas company’s stock, sold 4,000 shares during the period. At the close of the reporting period, Fukoku’s holdings in Exxon Mobil were valued at $16.18 million.
Several other institutional investors and hedge funds also adjusted their stakes in XOM during the fourth quarter:
- Bank of New York Mellon Corp. increased its holdings in Exxon Mobil shares by 14.4%, acquiring an additional 5,538,694 shares and bringing its total to 43,983,110 shares, valued at $4.73 billion.
- Pacer Advisors Inc. significantly raised its stake by 1,524.1%, purchasing an additional 5,110,603 shares to hold a total of 5,445,922 shares, worth $585.82 million.
- Franklin Resources Inc. increased its holdings by 16.3%, adding 4,415,012 shares to reach a total of 31,522,556 shares valued at $3.94 billion.
- Strategic Financial Concepts LLC increased its holdings dramatically by 11,131.0%, purchasing an additional 1,776,848 shares. The firm now holds 1,792,811 shares, with a value of $192.85 million.
- Geode Capital Management LLC increased its position by 1.8%, acquiring an additional 1,622,064 shares to reach a total of 92,194,981 shares, with a value of $10.78 billion.
Institutional investors and hedge funds collectively own 61.80% of Exxon Mobil stock.
Exxon Mobil Stock Performance
On Friday, the stock (NYSE: XOM) opened at $111.33. The company’s 50-day moving average rests at $108.95, and its 200-day moving average is $114.26. Exxon Mobil’s 52-week low is $104.03, while its 52-week high is $126.34. The company boasts a market capitalization of $483.08 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 3.02, and a beta of 0.89. The company’s debt-to-equity ratio is 0.14, with a current ratio of 1.31 and a quick ratio of 0.97.
Exxon Mobil’s most recent earnings report, released on January 31st, indicated an earnings per share (EPS) of $1.67, falling short of the consensus estimate of $1.77 by $0.10. The company’s return on equity was 12.92%, with a net margin of 9.63%. For the same period the previous year, the firm had reported an EPS of $2.48. Analysts project an EPS of $7.43 for Exxon Mobil Co. for the current fiscal year.
Dividend Announcement
The company also announced a quarterly dividend, which will be distributed on Monday, March 10th. Shareholders of record as of Wednesday, February 12th, will receive a dividend of $0.99 per share, representing an annual dividend of $3.96 and a dividend yield of 3.56%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s payout ratio is currently 50.51%.
Analyst Ratings
Several research analysts have recently updated their ratings on Exxon Mobil stock:
- Wells Fargo & Company lowered their price target from $136.00 to $135.00 and maintained an “overweight” rating.
- The Goldman Sachs Group reduced their target from $125.00 to $123.00 and maintained a “neutral” rating.
- UBS Group lowered their target from $149.00 to $147.00 but maintained a “buy” rating.
- Piper Sandler lowered their target from $138.00 to $127.00 and maintained an “overweight” rating.
- Morgan Stanley increased their price objective from $139.00 to $140.00.
Overall, one analyst has issued a sell rating, eight rate the stock as a hold, eleven recommend a buy, and two analysts have issued a strong buy rating. The consensus rating from MarketBeat.com is a “Moderate Buy”, with an average target price of $129.25.
Insider Transactions
Insider activity at Exxon Mobil includes a recent sale by VP Darrin L. Talley, who sold 2,100 shares of the stock on Tuesday, February 4th. The shares were sold at an average price of $110.00, resulting in a total transaction of $231,000.00. Following the sale, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. This signifies a 10.40% reduction in his ownership of the stock. Company insiders collectively own 0.03% of the company’s stock.
Exxon Mobil Profile
Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas in the United States and internationally. The company operates through four primary segments: Upstream, Energy Products, Chemical Products, and Specialty Products. The Upstream segment focuses on the exploration and production of crude oil and natural gas.
